Carbon Black Market Size, Share, Growth Analysis, By Type (Furnace Black, Channel Black), By Application, By Grade, By Region - Industry Forecast 2025-2032

Carbon Black Market size was valued at USD 23.37 Billion in 2023 and is poised to grow from USD 24.49 Billion in 2024 to USD 34.01 Billion by 2032, growing at a CAGR of 4.8% during the forecast period (2025-2032).

Developing sustainable carbon black is projected to be the prime focus of almost all market players going forward. Targeting the countries with increasing urbanization and industrialization will also pay off big time for carbon black companies in the long run. Expanding carbon black production capacity to meet rising demand and launching new carbon black products to maximize business scope will also emerge as popular strategies for market players as per this carbon black market analysis. 'Cabot Corporation ', 'Thai Carbon Black Public Company Limited (Birla Carbon) ', 'Orion Engineered Carbons S.A. ', 'Phillips Carbon Black Limited ', 'Tokai Carbon Co., Ltd. ', 'OMSK Carbon Group OOO ', 'Jiangxi Black Cat Carbon Black Inc., Ltd. ', 'OCI Company Ltd. ', 'China Synthetic Rubber Corporation ', 'SID Richardson Carbon & Energy Co. ', 'Mitsubishi Chemical Corporation ', 'Ralson Goodluck Carbon ', 'Longxing Chemical Stock Co, Ltd. ', 'Himadri Chemicals & Industries Ltd. ', 'Shandong Lion King Carbon Black Co., Ltd. ', 'Nippon Steel & Sumikin Chemical Co., Ltd. ', 'Suzhou Baohua Carbon Black Co., Ltd. ', 'Asahi Carbon Co., Ltd. ', 'Shandong Huadong Rubber Materials Co., Ltd. ', 'PJSC "Kremenchug Carbon Black Plant"'

Carbon black is used as a reinforcing agent in tires and growing demand for tires from the automotive industry is projected to bolster market growth in the future. China, India, and Brazil are estimated to emerge as highly popular markets for carbon black companies targeting the tire industry in the long run.

Use in Lithium-ion Batteries: Carbon black companies can focus on collaborating with battery companies to enhance the conductivity and performance of lithium-ion batteries. Growing demand for lithium-ion batteries from the automotive industry as popularity of electric vehicles picks up pace will emerge as a key carbon black market trend to open up new avenues of opportunities for companies in the long run.

The Asia-Pacific region is estimated to account for a prominent share of the global carbon black market. The presence of multiple carbon black providers, high industrial activity, and growing demand for tires from the automotive industry are projected to be key factors aiding the dominance of this region. India, China, and Japan are slated to be at the forefront of revenue generation for carbon black companies operating in the Asia Pacific region. Supportive government initiatives and low labor and raw material costs of this region are also expected to offer lucrative business scope for carbon black companies in the future.